Three Executives Depart in Major Leadership Shuffle at Symantec
(Bloomberg) -- Symantec Corp. Chief Executive Officer Greg Clark has embarked on a major shake-up of the cybersecurity software maker.
Chief Marketing Officer Michael Williams and Bradon Rogers, senior vice president of the company's Go-to-Market teams, have left the company, according to a memo obtained by Bloomberg. Symantec announced Thursday that President and Chief Operating Officer Michael Fey had resigned, but didn't publicize the other executive departures. A company spokesman said Symantec wouldn't be making any further public comments on the executive changes.
The Mountain View, California-based company is the world's biggest maker of cybersecurity software and has struggled as it shifts toward selling more to businesses in the face of dwindling consumer interest in personal computer antivirus programs. An internal investigation based on concerns raised by a former employee about accounting practices, announced in May, sent Symantec shares down 35 percent in a single day -- the most in 17 years. Activist investor Starboard Value LP then secured three board seats in an agreement reached in Sept
ember.
The internal accounting investigation concluded in September and the company announced it would revise its fiscal 2018 fourth-quarter results and fiscal 2019 first-quarter results after determining that $12 million of $13 million in recognized revenue should have been deferred.
In light of Thursday's departures, Chief Technology Officer Hugh Thompson will serve as interim chief marketing officer, while the Go-to-Market teams will report to Marc Andrews, whose duties as senior vice president of worldwide sales were expanded.
With Fey's departure, CEO Clark takes on the additional title of president. Clark announced Thursday that Art Gilliland, former CEO of Skyport Systems Inc. and a former Symantec senior vice president, would return to the company as executive vice president and general manager of its enterprise products unit.
--With assistance from Joshua Fineman.
To contact the reporter on this story: Olivia Carville in New York at ocarville1@bloomberg.net
To contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Andrew Pollack, Alistair Barr
©2018 Bloomberg L.P.
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